In another win for Tax Policy and the TCJA, The Bureau of Labor Statistics reported that 128,000 jobs were added to the US economy in October. These incredible figures surpassed all expectations and silenced those who have speculated that the US is headed for a down turn.
With more money in their pockets companies are able to raise wages. This was seen in October as the average hourly earnings increased 0.2%, up 3% from a year earlier.
Moreover, unemployment rose ever so slightly but ONLY because 325,000 Americans started looking for work, knowing that it was out there and wanting to be part of a thriving economy!
And if that wasn’t enough, the report corrected data from the summer and showed that an extra 95,000 jobs were added in August and September combined.
All of this good news is a result of the sustained results of a strong economy that is supported by even stronger tax policy! The TCJA helped create the space for more jobs, higher wages and better living. We are seeing the results every day and we will continue to see them.